Six Months Ended
March 31,
---------------------------
1997 1996
----------- ------------
Cash flows--operating activities:
Net income.................................................................. $ 6,218,000 $ 3,768,000
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization .......................................... 2,326,000 1,459,000
(Gains) losses on disposals of equipment, property and leasehold
improvements ...................................................... 332,000 1,000
Deferred facilities rent charges ....................................... (209,000) (166,000)
Amortization of deferred compensation .................................. 40,000 40,000
Unrealized foreign exchange (gains) losses ............................. (55,000) 117,000
Change in net assets and liabilities:
Trade accounts receivable .......................................... (1,670,000) (21,000)
Prepaid marketing expenses ......................................... (161,000) 110,000
Prepaid expenses and other ......................................... (385,000) (501,000)
Income taxes ....................................................... 1,538,000 (388,000)
Trade accounts payable ............................................. 1,671,000 (336,000)
Deferred revenue ................................................... 6,408,000 2,263,000
Accrued liabilities ................................................ (43,000) 556,000
----------- ------------
Net cash provided by operating activities .............................. 16,010,000 6,902,000
----------- ------------
Cash flows--investing activities:
Purchases of equipment, property and leasehold improvements ................. (10,001,000) (3,156,000)
Retirements of equipment, property and leasehold improvements ............... 5,000 7,000
Proceeds from short-term interest-bearing investments held to maturity ...... 14,544,000 --
Purchases of short-term interest-bearing investments:
Investments held to maturity ............................................ (4,500,000) --
Investments held for sale ............................................... (400,000) --
Other, net .................................................................. (660,000) (51,000)
----------- ------------
Net cash used in investing activities .................................. (1,012,000) (3,200,000)
----------- ------------
Cash flows--financing activities:
Principal payments of debt and capital leases ............................... (69,000) (111,000)
Sales of Common Stock ....................................................... -- 30,875,000
Collections of stockholder notes ............................................ 43,000 43,000
----------- ------------
Net cash provided by (used in) financing activities .................... (26,000) 30,807,000
----------- ------------
Effects of exchange rates on cash ............................................... (17,000) (300,000)
----------- ------------
Net increase (decrease) in cash and cash equivalents ............................ 14,955,000 34,209,000
Cash and cash equivalents at the beginning of the period ........................ 24,541,000 10,029,000
----------- ------------
Cash and cash equivalents at the end of the period.............................. $ 39,496,000 $ 44,238,000
=========== ============
Supplemental disclosures:
Income taxes paid...................................................... $ 2,281,000 $ 2,057,000
=========== ============
Interest paid.......................................................... $ 16,000 $ 18,000
=========== ============
| See accompanying notes to consolidated financial statements. |
Previous Page Next Page 10-Q Table of Contents Quarterly Results Investor Home
